Business

U.S. Morning Call: Facebook hikes IPO range, source says

May 15 - According to a source, Facebook is now aiming to raise $12.1 billion as it prepares to go public on Friday.

TRANSCRIPT +

Based looking group I'm getting hot at JPMorgan and getting heat and for -- I'm -- calls. Here's your morning cup this -- a FaceBook raising the price range or IPO expected on Friday. -- sort -- social network now going for between 34 and thirty dollars a share up from the original 28 to 35 dollar range. -- amount raised at the midpoint claiming to twelve point one billion dollars and the valuation. -- north of a hundred billion on the high end the IPO Mark Zuckerberg firms considered well over subscribed. Leading the company to close the books on the deal Tuesday two days. Ahead of schedule. JB Murray case CEO Jamie diamond facing the -- at shareholders today the company's annual meeting in Tampa Florida stockholders. We'll have a chance to question I -- about two billion dollar trade Englander at the firm. They will also vote on a non binding proposal the cut his power by splitting the roles of chairman and CEO. He -- bill. Groups including proxy advisor firm IF -- ouster saying they will support the measure which they hope would improve risk management at the farm. -- -- JPM slightly higher in the premarket. Cody closing the door on the Avon lady and a fragrance firm withdrawing its ten point seven billion dollar offer. Cody says Avon miss the deadline start discussing a deal that at first proposed march. It on that over the weekend that it planned to consider the bid and would respond within a week. Apparently that wasn't seen in Africa. Avon shares down more than 10% in the premarket and nearly 30%. Below company's last offer of 2475. A share. On the economic front April retail -- IFR markets calls it the most significant report. Of the week -- our forecast matching the consensus expectation of gain two tenths of 1%. This to be the slowest increase in ten months. I've ours does lower gas prices may have boosted consumer confidence but more seasonable weather and three months of strong sales -- may have meant them. Consumer prices are -- up this morning at 830. We'll Silverman some definitely fast at home deep well one of our stock watch. The Dow component in this quarterly sales expectations of a warmer winter prompted homeowners take up projects. Before this reporting period. It did raise its profit forecast for the year also keep and I -- group on the daily deals site story in the premarket after reporting. Its first quarterly profit and -- -- -- Monday ahead of the report. That's -- -- this Tuesday I'm Ted Rogers this is -- there.

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